What is a blue ocean strategy?
Ready for a business book review?
They say you should never judge a book by its cover. But when I first looked at ‘Blue Ocean Strategy’ the cover nor title gripped me, and I even avoided reading it for a few weeks.
But that’s my bag and I need to swallow some of my own medicine.
It’s based on a study of 150 strategic moves by a diverse group of organisations, over a 100-year period across 30 different industries.
Proving that lasting success comes from creating untapped marketplaces rather than battling competitors in swamped existing markets.
And you don’t necessarily have to be a start-up who’s thought up some new radical product, which changes the way people behave in the future.
It’s works the same way if you’re a well-established business who see an opportunity to re-design your existing products, in a way that catapults you, way beyond your competitors.
Although, blue oceans (as they call them) don’t last for ever, eventually the competition catch up, so it’s a never-ending quest to keep evolving to stay in the open blue water.
I really liked the case studies provided in the book, showing how loads of different types of organisations do this, and the fact that repackaging an existing product can work too.
It’s not just examples of how other organisations do it, the authors also provide a systematic approach to how you can do it too.
‘Blue Ocean Strategy’ gets a thumbs up & 5 stars
…any questions please connect up & message me. Thank you & see you next week.